498-9)

Author: Isaac Newton

Source: MINT 19/3/513, National Archives, Kew, Richmond, Surrey, UK

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  - 1 January 2001
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Related Texts
- This document is a version of:
  'An Acc^t of y^e cost & charges of sending Tynn to Amsterdam & selling it there by commission.' [MINT 19/3/498-9]

<513r>

An Account of the loss which his Majesty may sustein by renewing, for seven years, the contract with Cornwall & Devonshire for Tynn, now voyd by her late Majesties death.

Paid annually for 1840 Tunns of Tyn at 3^£ 9^s p^r cwt sta w^t		126960. 0. 0
Freight to London		1840. 0. 0
Salaries in London		1350. 0. 0
Incident charges in London, as Porters &c		200. 0. 0
Passing Accompts &c		94. 0. 0
Salaries in Cornwall & Truro		1540. 0. 0
Incidents in Cornwall		700. 0. 0
Insurance & other unforeseen accidents		1000. 0. 0
Total yearly expence		133684. 0. 0

Yearly income by selling about 1350 Tuns Averdup. p^r annum at 76^£ p^r Tun	}	102600. 0. 0


Yearly excess of the expence above the income		31084. 0. 0
Excess in seven years 217588.	}
Interest arising by this excess 40000.		257588. 0. 0
The late Queens debt upon the Tynn paid in the two first years		191200. 0. 0
Interest upon this payment till the end of the contract		63400. 0. 0
Total expence above the Income		512188. 0. 0

Tin left by the late Queen - 5200 Tuns averdupois

Tin which will be received by the King in 7 years - 13880 Tuns averd.

Tin which will be sold in seven years - 9450 Tuns.

Tin which will remain in the kings hands at the end of the contract - 9630 Tunns.

So great a stock of Tin, with what will be further raised in Cornwall, must of necessity beat down the price of Tin so low, that it will after the end of the contract scarce sell for above 40^£ per Tun, & be 12 or 16 years in selling. And the charge of warehouse room & Officers & Porters to sell it & rebate of interest till the money comes in being deducted, the Tin will remain scarce worth above 28 or 30^£ per Tun to be sold all together at the end of the contract for ready money. At 30^£ per Tonn the 9630 Tons will be worth 288900^£. And this being deducted from the 512188^£ will leave 223288^£ the Kings loss by the contract.

<513v>

			Tunns Averd
Tin in the late Queens hands at the beginning of this contract June 2^d 1710		}	2400
Added 800 Tunns St. w^t			-857
Total			3257
Left by the Queen at her death			5260
Increased in four years & two months			2003
Received in four years 6760 Tuns Stand			7243
Sold off in four years & two months			5240
Sold per annum at a medium			1257∟6
Will be sold in 2 $\frac{5}{6}$ years			3563
Will be received in 3 years 5520 T. stan.			5917
Will {be} added to the dead stock in three years			2354
Total dead stock at the end of this contract will be			7614

Money advanced for buying 5520 T. St. w^t in 3 years	380880^£	}	40000
For freight	5520
For other expences & accidents	13600
Interest upon the money advanced at 5 p^r cent			30000
			430000
Will be received by sale of Tin in 2 $\frac{5}{6}$ years 270788 whereof about 210000 is a debt upon the Tin. The remainder is			60788
If after the contract is at an end 1400 Tuns sta. w^t should be sold annually at 40^£ p^r Tun, one half by the K. the other half by Cornwall: the Kings share would produce an annuity of 28000 for almost 11 years, the value of which in ready money would be

Twelve hundred Tuns st. w^t Tin & freight at 70^£ p^r Tun	84000
Other Expenses 5000.	5000
Queens debts per annum	30000
	92000
Sold annually 1260 Tun av at 76^£ per Tun	95760

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)5252 (1260,

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41666

108533

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2520

Unsold in 10 $\frac{1}{2}$ years . 5260

95) 5260 (510.

5250

100

95) 5260 (553∟6

475

510

350

285

650

V 1260

7560

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16400

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800

18120 sta 1297

1297

19417

95) 14157 (1400
465
9.64900
23240
209160
13944
9296
20916
224242∟76